(Editor’s note: This story and its headline have been updated to include the stock’s after-hours movement)
Niagen Bioscience (NASDAQ:NAGE), whose anti-aging product counts longevity entrepreneur Bryan Johnson among its customers, reported its strongest financial results to date on Wednesday, doubling full-year profits and posting 30% revenue growth. The Los Angeles-based company also signaled it is actively looking at acquisitions and planning to expand into new consumer markets this year.
CEO Rob Fried, speaking exclusively with Benzinga ahead of the earnings call, said the company is evaluating potential acquisition targets, though no deal is imminent. “We are looking at companies,” Fried said. “We have not found one to pull the trigger on yet, but it is possible.”
Shares of the company gained as much as 44% after the bell on Wednesday, after closing the session at $4.94.
The Next Bet: Injections, Beauty, And A Possible Deal
Founded in 1999, Niagen Bioscience makes NAD+ precursor supplements — compounds the body uses to produce a coenzyme that declines with age. Its flagship product, Tru Niagen, which is used by Johnson, competes in an increasingly crowded market.
NAD is a coenzyme essential to healthy bodies, but levels decline with age. Most NAD supplements are ineffective, and so, experts recommend precursors instead. Niagen’s active ingredient, nicotinamide riboside, has passed FDA safety reviews, though the product is not approved …
